Property Mark Lim

24/08/2026

22-24 August 2026, Saturday to Monday

THE BUSINESS TIMES

Household income ceiling for BTO flats to rise to S$16,000, executive condos go up to S$18,000

The monthly household income ceiling for HDB Build-to-Order (BTO) flats will be raised from S$14,000 to S$16,000, while that for executive condominiums (ECs) will also go up from S$16,000 to S$18,000. This was announced by Prime Minister Lawrence Wong at the National Day Rally on Sunday (Aug 23) evening, marking the first time since 2019 that income ceilings have been adjusted.

THE BUSINESS TIMES

CLI, IOI close to buying One Raffles Place: sources

Capitaland Investment (CLI) and Malaysian developer IOI Properties Group are nearing a deal to buy an iconic office development in Singapore's central business district, according to people familiar with the matter. The Temasek Holdings-backed Singapore property asset manager and IOI are looking to form a joint venture to finalise a transaction for One Raffles Place, the people said, asking not to be identified.

THE BUSINESS TIMES

Aw & Sons’ Josh Hu takes co-living into the heartlands with Mber

Co-living spaces and serviced apartments tend to follow the bright lights of the city centre. Josh Hu, Aw & Sons Capital’s managing director, has taken them into Singapore’s heartlands instead. His latest project, Mber Co-Living & Serviced Apartments, sits along Upper Serangoon Road, in a neighbourhood better known for its mature housing estates and old school shophouses.

21/08/2026

21 August 2026, Friday

LIANHE ZAOBAO

Rents for non-landed private homes rose 1.6 per cent month-on-month in July, with rental volume hitting new monthly high

Singapore's non-landed private residential rental market was active in July, with rental volumes hitting a record high, driving rents up 1.6 per cent month-on-month. Estimated figures for July released on 20 Aug by real estate website 99 .co and the Singapore Real Estate Exchange (SRX) showed that, similar to June, among non-landed private residential properties, those in the Rest of Central Region (RCR), representing mid-range private housing, performed best, rising 2.2 per cent month-on-month.

EDGEPROP

Commercial conservation shophouse on Tras Street for sale at $15.6 mil

A three-storey intermediate shophouse with an attic, at 38 Tras Street, in the Chinatown–Tanjong Pagar Conservation Area, is up for sale via an expression of interest (EOI) exercise with a guide price of $15.6 million. A restaurant occupies the first storey, while serviced accommodation units are on the upper floors. This offers investors an opportunity to acquire an income-producing commercial asset in an established location, said ERA Realty Network, the exclusive marketing agent.

THE EDGE

CapitaLand, IOI near deal for $2.4 bil office — Bloomberg

CapitaLand Investment Ltd and Malaysian developer IOI Properties Group Bhd are nearing a deal to buy an iconic office development in Singapore’s commercial centre, according to people familiar with the matter. The Temasek Holdings Pte Ltd-backed Singapore property asset manager and IOI are looking to form a joint venture to finalise a transaction for One Raffles Place, the people said, asking not to be identified because the information is private. The property is likely to be sold for just under $2.4 billion, one of the people said.

EDGEPROP

Stamford Place will open in September after revamp, with serviced apartments, workspaces, dining, culture

Following an 18-month restoration and repositioning, Stamford Place — previously Stamford Court — will open its doors this September as a mixed-use lifestyle destination that combines living, working, dining and social connection. It will include APT., a new 66-unit boutique serviced apartment in partnership with Frasers Hospitality; 30,000 sq ft of hospitality-inspired workspaces by The Great Room by Industrious; as well as a curated mix of dining, retail and art, according to an Aug 20 press release.

CHANNEL NEWSASIA

Co-living an emerging housing option for young adults, but affordability and familiarity concerns remain

Co-living is emerging as a new housing option for young adults seeking independence before marriage or owning their first home, but it is unlikely to shift Singapore’s longstanding policy and emphasis on home ownership for now, said observers. It reflects how young Singaporeans’ housing goals are changing as they marry later and seek greater flexibility in the transition to adulthood while affordability remains a major consideration, they added.

20/08/2026

20 August 2026, Thursday

THE BUSINESS TIMES

Oei Tiong Ham Park area GCB sold for S$31.3m

A freehold Good Class Bungalow (GCB) property in the Oei Tiong Ham Park enclave has been sold for S$31.3 million, or about S$2,089 per square foot (psf) on a land area of about 14,982 square feet (sq ft). The S$31.3 million price tag is about 27 per cent below the guide price of S$42.8 million when the site was marketed in March 2025.

EDGEPROP

Singapore branded residences remain a luxury stronghold, even as Apac diversifies

The branded residences segment in Asia Pacific (Apac) is evolving. Following years of rapid expansion, the market is now entering a new phase of maturity, marked by a diversification beyond the luxury offerings that have traditionally monopolised the landscape. However, while the region is seeing a growing pipeline of upscale and midscale brand developments, Singapore remains firmly dominated by ultra-prime and luxury brands, according to Savills.

EDGEPROP

Abiel to convert three Geylang Road shophouses into 'micro-residences' for rent

Abiel Property Investment Fund is converting three adjoining conservation shophouses on Geylang Road into a collection of “micro-residences” that aim to fill the gap between a hotel stay and a conventional rental lease. Located at 223, 225 and 227 Geylang Road, House 223 is set to open in September. It will feature 15 micro residences, located across five levels totalling 12,957 sq ft. The development will also have a rooftop garden and communal areas.

EDGEPROP

Freehold Geylang redevelopment site for sale at $33 mil

A freehold plot at 30 and 32 Lorong 22 Geylang has been launched for sale at a guide price of $33 million, or $928 psf per plot ratio. The 12,693 sq ft site is zoned for commercial/institution use with an allowable plot ratio of 2.8. It is currently occupied by two three-storey apartment blocks comprising 12 units.

EDGEPROP

Three freehold retail units on Greenwood Avenue in Bukit Timah for sale at $18.5 mil

Three freehold ground-floor retail units at 20, 26 and 28 Greenwood Avenue in Bukit Timah are on the market with a combined guide price of $18.5 million. CBRE, the exclusive marketing agent for the asset, said buyers have the option to purchase them individually or as a portfolio.

19/08/2026

19 August 2026, Wednesday

THE BUSINESS TIMES

Father-and-son duo Raj Kumar and Kishin in exclusive due diligence to buy Scotts Square

A potential sale of Scotts Square is in the early stage of being hammered out at a price of about S$320 million. The father-and-son team of Raj Kumar and Kishin RK is said to be in exclusive due diligence for a purchase of the four-level freehold retail mall in a prime Scotts Road location, just off Orchard Road.

THE STRAITS TIMES

Luxury eldercare from $8k a month at Singapore’s first private assisted living project

Singapore’s first private assisted living home, Perennial Living, which launched phase one of its operations on Aug 18, has spared no expense in building an ecosystem that aims to set a new benchmark for private eldercare for the well-heeled elderly. Spanning 195,000 sq ft and located at 28 Parry Avenue, the $260 million luxury assisted living project features the Perennial Wellness centre, which offers medical care, rehabilitation therapies and traditional Chinese medicine (TCM) services, alongside what it touts as five-star hospitality, dining, amenities and services.

LIANHE ZAOBAO

Number of properties auctioned in H1 increased by 12 per cent to 292 properties, a five-year high

The real estate auction market was active, with the number of properties auctioned in the first half of 2026 increasing by 12.3 per cent to 292, a five-year high. According to data from ETC, a subsidiary of Realion Group, 74 per cent of the properties listed for auction in the first half of 2026 were mortgage sales, totalling 216, an increase of 30.9 per cent compared to the second half of 2025.

LIANHE ZAOBAO ONLINE

Verdun House put up for sale at $82 million, 49 per cent above price paid by Fragrance Group's James Koh four years ago

Verdun House, a freehold building situated at the junction of Verdun Road and Sam Leong Road in Little India, has been put on the market via an Expression of Interest (EOI) process, with an asking price of $82 million. The building was purchased by James Koh, Executive Chairman of the Fragrance Group, in April 2022 for $55.1 million. This means that his current asking price is 49 per cent, or $26.9 million, higher than the original purchase price.

18/08/2026

18 August 2026, Tuesday

THE BUSINESS TIMES

Developer sales pick up in July with 731 new homes sold, mainly from 2 launches

Developers in Singapore sold 731 new private homes in July, nearly five times the 156 units sold in June but 22.2 per cent fewer than the 940 units moved in the same month a year ago. Two major projects were marketed in July – Dunearn House and Lentor Gardens Residences – which brought fresh supply to market following June’s dry spell and saw firm take-up rates of around 55 per cent at launch.

THE BUSINESS TIMES

Freehold Sembawang apartments up for collective sale at S$130m

Hong Heng Garden, a freehold residential site at 33 Sembawang Road, has been put on the market for collective sale at a reserve price of S$130 million. The price tag translates to a land rate of S$1,128 per square foot (psf) per plot ratio, said marketing agent ETC of Realion Group on Monday (Aug 17). This includes a 7 per cent bonus gross floor area (GFA) and land betterment charge of around S$18 million.

THE BUSINESS TIMES

Sustained Land buys Thomson Lane plot for S$578m, plans condo project on prime site

A joint venture led by developer Sustained Land is buying a sprawling site in Thomson Lane for S$578 million from an entity linked to OCBC’s Lee family, with plans to build a large residential project on the prime plot. According to a caveat lodged on Aug 11, the seller is Chequers Properties, a company linked to the family of late rubber magnate and philanthropist Lee Kong Chian, regarded as the founding father of OCBC.

THE STRAITS TIMES

Kallang Distripark to be redeveloped for thousands of new private homes

Kallang Distripark, a privately owned disused rubber factory converted into a warehouse site, is being prepared to be redeveloped for private housing. The Urban Redevelopment Authority (URA) on Aug 14 published a proposed amendment to its Master Plan, which involved carving up the site into several housing plots and a new neighbourhood park, as well as introducing new roads.

EDGEPROP

Goodland Group puts Kim Chuan Lane industrial building up for sale at $73 mil

Listed Singapore property developer Goodland Group has put an eight-storey industrial building at 3 Kim Chuan Lane up for sale by private treaty. A property listing online indicates a $73 million price tag for the freehold property, located in the Tai Seng-Kim Chuan industrial precinct.

17/08/2026

15-17 August 2026, Saturday to Monday

THE BUSINESS TIMES

OpenAI steps up Singapore footprint, in talks to lease 100,000 sq ft in Shaw Tower

Amid the current wave of artificial intelligence companies on an expansion trail into Singapore, ChatGPT creator OpenAI is said to be in talks to lease about 100,000 square feet of offices at the new Shaw Tower in Beach Road. The space that OpenAI is negotiating to lease spans five floors.

THE STRAITS TIMES

More green spaces to be retained in Gillman Barracks, Maju Forest: Alvin Tan

More green spaces in Gillman Barracks and Maju Forest will be retained following public feedback on plans for the sites. But this will mean fewer homes can be built there, Minister of State for National Development Alvin Tan told reporters on Aug 14.

THE STRAITS TIMES

Singapore homes need stronger fire protection as population ages

As Singapore embarks on a multi-year building boom spanning housing and major infrastructure, local service providers are exploring the capital markets for funding to meet growing demand and consolidate fragmented industries. Among them is fire-protection specialist Deluge Fire Protection, which sees opportunities in projects ranging from MRT stations and road tunnels to data centres and commercial buildings, while seeking to raise standards across an industry with hundreds of small contractors.

LIANHE ZAOBAO

Marina Bay district cooling network to expand, serving 50 developments by 2030

The Marina Bay district cooling network is set to expand its coverage to meet energy-saving targets. By 2030, the system is expected to provide cooling services to 50 developments, including the Marina Bay Sands expansion, with a total cooling capacity exceeding 75,500 refrigeration tons. Managed by SP Group, the world’s largest underground district cooling system is housed five levels below ground at Marina Bay Sands. On 14 Aug, SP Group announced plans to expand the network to the Raffles Place area and surrounding parts of the Central Business District, including Anson, Enggor and Havelock, as well as OUE Bayfront.

LIANHE ZAOBAO

Nearly Two-Thirds of Resale Transactions Recorded Losses Over the Past Six Years: Is Sentosa Cove’s Market in Decline, or Poised for a Rebound?

Earlier this month, the Berlayar Drive site in Singapore’s southern waterfront attracted only one bid, but the offer set a record-high land price for private residential sites in the Rest of Central Region (RCR), signalling the developer’s confidence in the area’s growth potential. In contrast, the private residential market at Sentosa Cove, just across the water, has struggled, with nearly two-thirds of resale transactions ending in losses over the past six years and the proportion of loss-making deals continuing to rise.

LIANHE ZAOBAO

Falling HDB resale prices may affect plans to upgrade to private homes

Singapore’s resale HDB prices have fallen for two consecutive quarters, while uncertainty over mortgage rates may make homeowners more hesitant to upgrade to private property. After seven years of rising resale prices, some owners, particularly those who sold subsidised BTO flats at higher prices, had used the gains to fund private home purchases.

LIANHE ZAOBAO

Rethinking spatial design in HDB neighbourhoods could boost social cohesion

Living close together does not necessarily create stronger neighbourhood bonds, according to a study by the Singapore University of Technology and Design (SUTD). Researchers found that frequent encounters at lift lobbies or coffee shops often remain superficial and do not automatically lead to deeper trust or meaningful mutual support. The Project BOND study examines how social cohesion develops in HDB estates, particularly those with both rental and owner-occupied flats, by looking at residents’ daily interactions, familiarity with one another and sense of belonging.

THE EDGE

Freehold eight-storey B2 industrial building at Kim Chuan Lane for sale

A freehold eight-storey industrial building at 3 Kim Chuan Lane is up for sale. The property, jointly marketed by Cushman & Wakefield and Knight Frank, sits on a freehold site spanning about 16,685 sq ft and comprises an existing gross floor area (GFA) of about 41,710 sq ft, with a total strata area of about 54,939 sq ft. Zoned “Business 2” under the Urban Redevelopment Authority (URA) 2025 Master Plan, the property currently comprises 15 strata-titled factory units and two levels of basement carpark.

14/08/2026

14 August 2026, Friday

THE BUSINESS TIMES

Orchard Boulevard, Marina Gardens Lane GLS sites up for sale

The Urban Redevelopment Authority (URA) on Thursday (Aug 13) released two residential sites at Orchard Boulevard and Marina Gardens Lane for sale, in tenders closing in October. Both sites are on the confirmed list of the government land sales (GLS) programme for the second half of 2026. Under URA’s indicative launch schedule, they are the first two of eight residential sites on that list to be offered.

THE STRAITS TIMES

Mortgage rate fall, policy changes to bolster housing market: PropNex

Lower mortgage rates, population growth and recent changes to housing policies are expected to support Singapore’s residential property market in the second half of 2026, even as price growth moderates and home sales remain below 2025 levels, said PropNex. Private home prices are expected to rise by 3 per cent to 4 per cent for the whole of 2026, while developers are projected to sell about 9,000 new private homes, excluding executive condominiums, the property agency said in its results statement for the first half of 2026 released on Aug 13.

THE STRAITS TIMES

Two-thirds of properties in Sentosa Cove resold at a loss in last 3 years

Nearly two-thirds of Sentosa Cove properties changed hands at a loss in the last three years, while resale gains on profitable transactions shrank by some 60 per cent, research by analysts showed. Landed homes seem to fare slightly better than condominiums, with roughly half of landed resale deals closing above water since 2023.

THE BUSINESS TIMES

Legacy builders: A next wave of real estate players emerging from the 1980s

A generation of pioneer founders built the foundations of modern Singapore in its post-independence boom. As Singapore moved up the value chain, a fresh wave of real estate players emerged from the 1980s onwards. Building in new market segments, some pivoted adroitly from construction to development. How did these families make their mark, and move their business into a second generation?

13/08/2026

13 August 2026, Thursday

THE BUSINESS TIMES

New Orchard Road park to treble Istana Park’s size, serve as commercial and leisure space

A new park, which will be triple the size of the existing 1.3-hectare Istana Park, is set to be developed under updated plans by the National Parks Board (NParks) to rejuvenate areas along Orchard Road. Unveiled by Minister of State for National Development Alvin Tan on Wednesday (Aug 12) at Temasek Shophouse, the redeveloped green area merges Istana Park with urban park Dhoby Ghaut Green and Penang Road Open Space.

THE BUSINESS TIMES

Commercial deals on track to hit record in 2026

Singapore’s commercial real estate market is on track for a record year, with US$10.3 billion of deals completed in the first half of 2026, said global index provider MSCI. Another US$6 billion of transactions is in the pipeline, MSCI’s latest Asia Pacific Capital Trends quarterly report showed. If completed, the deals would push full-year volume past the previous record of US$13.1 billion set in 2019.

THE BUSINESS TIMES

JTC eyes unified zoning of one-north parcels for LaunchPad revamp

Land parcels in Ayer Rajah Crescent, currently zoned for a variety of uses, are set to be unified under a single business park zoning as part of plans to rejuvenate LaunchPad @ one-north. The proposed changes will place the entire 9.82-hectare estate – roughly 14 football fields – under a gross plot ratio (GPR) of 2.5.

EDGEPROP

UOL readies mega Thomson Reserve condo launch in 4Q2026, and luxury NoMad Hilton hotel debut

The 1,268-unit Thomson Reserve residential development — a joint venture (JV) between UOL Group and CapitaLand Development — will be launched for sale in the fourth quarter of 2026. Following which, the debuts of the Dorset Gardens condo and the Hougang Central landmark mixed-use development are both slated for 2027.

EDGEPROP

Aspiring HDB upgraders plan to buy private homes below $2.5 mil, prefer RCR and OCR condos: survey

More than half of HDB flat owners polled in a recent survey hope to own a private home one day, with the lion’s share of them setting their upgrading budget at below $2.5 million. By region, aspiring upgraders generally prefer to own and live in a private condo in the Rest of Central Region (RCR) or city fringe, as well as the Outside Central Region (OCR) or suburbs.

EDGEPROP

Average strata office prices rise despite fewer deals, while retail activity slows

Singapore’s strata commercial property market delivered a mixed performance in the first half of this year, with the office segment proving more resilient than retail. According to Knight Frank’s research, 136 office transactions were recorded in 1H2026, easing by 16.5 per cent from 2H2025.

CHANNEL NEWSASIA

Former HUDC estates hopeful about hitting en bloc thresholds under proposed collective sale measures

Some former Housing and Urban Development Company (HUDC) estates are hopeful that proposed lower en bloc thresholds could improve their chances of securing a collective sale. Pine Grove is pushing forward with its fourth attempt, which will conclude in mid-September, while Ivory Heights and Laguna Park have ended their en bloc attempts earlier this year, after failing to reach the current 80 per cent consent threshold.

11/08/2026

8 - 11 August 2026, Saturday to Tuesday

THE BUSINESS TIMES

From shopping belt to business address – Orchard Road’s corporate appeal is growing

Orchard Road may still be better known for boutiques than boardrooms, but a growing roster of corporate occupiers points to an emerging second identity– as a business address. Consultancy giant Deloitte Singapore will soon join that roster, relocating from its Shenton Way seat at OUE Downtown in the traditional central business district (CBD) to Orchard Central, after its lease expires at the end of 2026. It will occupy several upper floors of the 12 storey building from 2027.

THE BUSINESS TIMES

City Plaza site up for sale at S$970m, may be rezoned for residential use

Owners at City Plaza have put the freehold mixed development in Geylang on the market with a guide price of S$970 million, in a third attempt at a collective sale. Owners of the complex have made two previous collective sale attempt

THE BUSINESS TIMES

As Singapore rejuvenates ageing buildings, where does adaptive reuse fit?

Across Singapore’s property market, owners are investing in ageing assets to meet changing tenant expectations, improve sustainability performance and maintain competitiveness. As owners seek to extend the life of ageing buildings, adaptive reuse is one of several strategies available. Whether it is pursued, however, ultimately depends on whether a building can be converted and whether the business case stacks up.

THE STRAITS TIMES

Over 500 Singaporeans apply for co-living rooms; scheme oversubscribed

More than 500 young Singaporeans have signed up for discounted co-living rooms under a new independent living initiative, making the scheme five times oversubscribed within 11 days of its launch. The applications were submitted between the initiative’s launch on July 25 and Aug 4, the Ministry of Culture, Community and Youth (MCCY) said in response to queries from The Straits Times

LIANHE ZAOBAO

Lowering threshold could help, but shorter collective sale signing period may add challenges for large projects

News of the government’s amendments to the Collective Sale Regime has reignited hope among owners of private residential developments that have previously failed to secure collective sale approval. Laguna Park and International Plaza, two private residential developments in Marine Parade, are considering relaunching their collective sale plans once the new regulations come into force. However, the new regulations shorten the timeframe for signing the collective sale agreement, raising concerns among owners that the process may become more difficult. Laguna Park has attempted a collective sale on five occasions, but has failed each time to secure the consent of 80 per cent of the flat owners. The reserve price for the fifth attempt was S$1.48 billion; the one-year ‘signing period’ ends on 16 August, and so far only 49 per cent of homeowners have signed the sale and purchase agreements. This 99-year leasehold privatised medium-income housing (HUDC) block is 48 years old. Despite repeated failures, the homeowners have not given up hope.

LIANHE ZAOBAO

Toa Payoh Town Park to remove stone arch bridge and rebuild pond, giving former wedding photography hotspot a new look

Many newlyweds once chose Toa Payoh Town Park as a popular location for wedding photography. The park is currently undergoing renovation works. While its iconic observation tower will be retained, the pond has been drained and the nostalgic stone arch bridge has also been removed. Once the renovation is completed, a new pond will be added, giving the park a refreshed look as it welcomes residents once again. Located between Lorong 6 Toa Payoh and the Pan Island Expressway (PIE), Toa Payoh Town Park has been closed since February 2024 as part of the Toa Payoh Integrated Development project. Covering 12 hectares, the integrated development is expected to be completed by 2030 at the latest.

THE STRAITS TIMES ONLINE

MSE does not have mandate on land use planning of Maju Forest, Gillman Barracks: Grace Fu

Minister for Sustainability and the Environment Grace Fu said on Aug 7 that her ministry does not have a mandate over land use planning and zoning, even though issues concerning the development of Maju Forest and Gillman Barracks for housing are considered alongside the climate agenda. Her comments on Instagram and Facebook come after plans for both areas, shared on July 10, prompted some to question why the Ministry of Sustainability and the Environment (MSE) did not play a role in protecting the forested areas.

EDGEPROP

Tanjong Katong student hostel and restaurant building up for sale at $23.8 mil

A freehold five-storey corner building with dual-use approvals and value-add potential, located at 188L Tanjong Katong Road, has been placed on the market via an expression of interest (EOI) exercise with a guide price of $23.8 million. The property has an existing floor area of about 9,330 sq ft for approved restaurant use on Level 1 and for student hostel accommodation on Levels 2 to 5, said the exclusive marketing agent Knight Frank Singapore in an Aug 10 press release

CHANNEL NEWSASIA

Property agents may 'borrow' transactions to meet new requirement for registration renewal, despite the rules

Some inactive property agents may “borrow” transactions from others to fulfil a new requirement that they must complete at least three transactions over three years to maintain their registration, some agents told CNA. Active agents said they could submit a transaction under an inactive agent’s name, even though he or she was not involved in the deal. The inactive agent would then transfer the commission to the actual agent involved.

09/08/2026

To all my fellow countrymen, Happy National Day 🇸🇬🤩

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